Updated on April 28, 2016 10:35:21 AM EDT
There were two economic reports posted this morning with one being much more important than the other. The big news was the preliminary version of the 1st Quarter Gross Domestic Product (GDP) reading that showed a 0.5% annual rate of growth. This was weaker than the 0.8% that was expected, meaning the economic was softer the first three months of the year than many had thought. Since bonds tend to thrive in weaker economic conditions, this is definitely good news for mortgage rates. Unfortunately, the markets don’t seem to be too concerned or excited about the reading.